RLX Technology (NYSE:RLX) Rating Increased to Hold at Wall Street Zen

Key Points

• RLX Technology has received an upgrade from a "sell" rating to a "hold" rating by analysts at Wall Street Zen, indicating a more positive outlook for the stock.
• Citigroup has reduced its price target for RLX Technology from $2.50 to $2.25, reinforcing a "neutral" rating for the company.
• RLX Technology reported a net margin of 22.32% in its recent quarterly earnings, while its actual revenue of $122.88 million fell significantly short of analysts' expectations of $725 million.

Wall Street Zen upgraded shares of RLX Technology (NYSE:RLX - Free Report) from a sell rating to a hold rating in a report issued on Saturday.

Separately, Citigroup decreased their price target on RLX Technology from $2.50 to $2.25 and set a "neutral" rating for the company in a research note on Monday, May 19th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat, RLX Technology currently has an average rating of "Hold" and a consensus price target of $2.25.

RLX Technology Stock Up 1.0%

NYSE RLX traded up $0.03 on Friday, reaching $2.57. 399,544 shares of the stock traded hands, compared to its average volume of 4,616,973. The firm's fifty day simple moving average is $2.29 and its 200 day simple moving average is $2.12. The company has a market cap of $4.03 billion, a price-to-earnings ratio of 36.65 and a beta of 1.10. RLX Technology has a 12 month low of $1.57 and a 12 month high of $2.69.

RLX Technology (NYSE:RLX - Get Free Report) last issued its quarterly earnings results on Friday, August 22nd. The company reported $0.02 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.18 by ($0.16). The firm had revenue of $122.88 million for the quarter, compared to the consensus estimate of $725.00 million. RLX Technology had a net margin of 22.32% and a return on equity of 4.54%.

RLX Technology Announces Dividend

The firm also recently announced an annual dividend, which will be paid on Friday, September 26th. Stockholders of record on Friday, September 12th will be given a $0.01 dividend. This represents a dividend yield of 70.0%. The ex-dividend date of this dividend is Friday, September 12th. RLX Technology's dividend payout ratio (DPR) is 14.29%.

Institutional Trading of RLX Technology

Several hedge funds and other institutional investors have recently modified their holdings of the business. Bank of America Corp DE boosted its position in shares of RLX Technology by 6.0% in the fourth quarter. Bank of America Corp DE now owns 166,949 shares of the company's stock worth $361,000 after buying an additional 9,512 shares during the period. Marshall Wace LLP boosted its position in shares of RLX Technology by 3.9% in the fourth quarter. Marshall Wace LLP now owns 267,606 shares of the company's stock worth $578,000 after buying an additional 10,071 shares during the period. Invesco Ltd. boosted its position in shares of RLX Technology by 2.2% in the first quarter. Invesco Ltd. now owns 590,243 shares of the company's stock worth $1,110,000 after buying an additional 12,834 shares during the period. Vanguard Personalized Indexing Management LLC boosted its position in shares of RLX Technology by 73.8% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 40,168 shares of the company's stock worth $89,000 after buying an additional 17,060 shares during the period. Finally, Hsbc Holdings PLC boosted its position in shares of RLX Technology by 10.6% in the fourth quarter. Hsbc Holdings PLC now owns 198,832 shares of the company's stock worth $429,000 after buying an additional 19,119 shares during the period. Institutional investors and hedge funds own 22.68% of the company's stock.

RLX Technology Company Profile

RLX Technology Inc, together with its subsidiaries, engages in the manufacture and sale of e-vapor products in the People's Republic of China and internationally. It serves partner distributors and retail outlets. The company was founded in 2018 and is headquartered in Beijing, China.